“Did you hear about Sally Smith?”
“You mean the doctor in San Diego? No, what happened?”
“What? She’s so young! I think she’s only in her early fifties!”
“I know. She invested in a hot internet company and she hit the jackpot.”
The story of this physician was repeated with many different investors. The era known as the Dotcom boom heralded the advent of many companies that all had a prominent internet presence. From 1995 to its peak in March of 2000, it was a period of unprecedented speculation and rise in stock prices. For a while, it seemed as though anything that had .com in its company name would guarantee an incredible return on one’s money if an investment in the stock was made. In today’s stock market, one may draw analogies to the meteoric rise of Tesla. However, the breadth and mania of this period has never been equaled in the history of the American stock market. While some of these companies still exist and thrive such as ebay.com and Amazon.com, many declared bankruptcy and were relegated to the trash heap of a bygone era.
There is an epilogue to this physician investor. Two years after the Dotcom bust, she quietly returned to work, albeit part-time. She was wise enough to sell and diversify some of her paper profits before the company she invested in completely collapsed and eventually went bankrupt.
There are many savvy investors who have made sizable incomes and retired by adroitly choosing the correct stocks. However, there are many more who have squandered their savings by investing in get-rich-quick schemes. It is not only Dotcom companies. Real estate and flipping houses for a quick profit, investing in options, and even playing the lottery all fall under this alluring category.
Wealth from get-rich-quick schemes quickly disappears; wealth from hard work grows over time.
Proverbs 13:11 (NLT)
The Bible is not a financial guidebook but it does give very practical advice to prepare for one’s financial security. It should come as no surprise that building a secure nest egg for financial security and retirement does take time. However, one must make a commitment to do this. It is like our spiritual walk with God. We all need to make a decision whether to follow Jesus Christ as our Lord and Savior. Once we make the decision, the transformation is instantaneous and we become a child of God and receive forgiveness of our sins, salvation and eternal life. However, the sanctification, the ongoing process of becoming more Christ-like will take the rest of our life on this earth. We do not have to live our lives chasing after the latest trend like a dotcom boom to find fulfillment. When we have accepted Jesus Christ as our Lord and Savior, we have the assurance that our faith and sanctification will grow as long as we abide in Him.
And I am certain that God, who began the good work within you, will continue his work until it is finally finished on the day when Christ Jesus returns.
Philippians 1:6 (NLT)
Love and trust in the Lord; seek His will in your life.